• Decentraland (MANA) is a virtual reality platform that has been unable to acquire any VR clients, and Avalanche (AVAX) is down 11.3% since December.
• Collateral Network (COLT), on the other hand, is gaining traction in the crypto space and has an estimated 35x gains within 6 months of its presale.
• Despite some recent bullishness for Decentraland (MANA), it is still 94% below its all-time high of $5.9, while Avalanche (AVAX) has seen a significant decline since December 2022.
Decentraland (MANA): Incompatible with VR
Decentraland (MANA) is a virtual reality platform that uses the Ethereum (ETH) blockchain and enables content and app creation, consumption, and monetization. Despite having virtual reality as a core element, Decentraland (MANA) has been unable to get a single VR client onboard. Sean Ong, a member of the Decentraland (MANA) DAO recently told Cointelegraph that Decentraland was “fundamentally incompatible with VR” which made introducing it difficult. Work is underway to develop VR on the Decentraland platform, though grants have been issued for the same. The price of MANA at the moment stands at 0.34 USD – this marks 10.5% increase from just yesterday however it’s still 94% lower than its all time high of 5.9 USD
Avalanche (AVAX): Down 11.3% Since December
Blockchain Avalanche – well known for its smart contracts – is seen as Ethereum’s competitor when it comes to creating private blockchain networks & decentralized applications(dApps). The performance of AVAX in 2022 was poor as it lost around 86% of its value and hasn’t recovered much either – with AVAX dropping 11.3% from December 2022 onwards. However there’s recent good news for AVAX token holders as well now that institutional investors are showing interest in AVAX tokens & staking services related to them have started launching too soon
Collateral Network: Gaining Traction
Collateral Network(COLT), an upcoming protocol based on Ethereum blockchain, is gaining traction in crypto space with predictions suggesting 35x gains within 6 months from presale launch itself! COLT aims to create an interoperable network connecting different digital assets through borrowing & lending services & more importantly solving liquidity issues often faced by DeFi projects related to ETH tokens
The Outlook
It isn’t clear if Decentraland or Avalanche will continue their respective rallies but risk does exist for investors interested in these tokens especially given their past performances & market conditions right now due to competition they face from protocols like Collateral Network aiming to offer better services too
Conclusion
Decentraland’s failure so far to acquire any VR clients coupled with Avalanche’s declining market performance paints an uncertain future for these two tokens despite some recent bullishness witnessed by MANA token holders lately; however new protocols like Collateral Network stand out as one offering promising solutions with expected growths over time